Bitcoin experienced a technical correction after a surge, briefly dipping to around 116700, followed by a gradual stabilization of the market and a steady upward shift in focus. The extent of the pullback triggered by short-term resistance is limited and does not shake the foundation of the overall upward trend.
After adjustments and consolidation over the weekend, the coin price has stabilized again, and the overall trend has returned to a bullish channel.
BTC 116800-117300 range, looking at 1185-1195 ETH 4430-4460 range, looking at 4520-4580
Shaozu looks at Duo doing Duo, naturally reaping a lot of rewards! After hitting the bottom, Shaozu has always been Duo, and there's no point in playing catch-up; strength will speak for itself!
Easily seen as a reversal? The beginning of the month is just a bottoming out! Recently, the young ancestor has given low and low values, this is the young ancestor's judgment on the trend!
Yesterday's trading during the day maintained a volatile pattern, and in the evening, with the opening of the US stock market, there was a sell-off action. BTC stabilized after falling below the 113000 mark, showing strong support around 111900, but the momentum afterwards was insufficient.
From the 4-hour chart, the market has stopped declining and is warming up. The Bollinger Bands are opening upwards, with prices continuously testing the middle band. In the evening, the market experienced back-and-forth tug-of-war, which belongs to a phase of corrective trading, with a focus on low volatility to follow.
BTC 112800-113300 range, looking at 1145-1155 ETH 3540-3560 range, looking at 3650-3700
Currently, on the daily chart, after six consecutive bearish days, yesterday closed with a bullish candle, indicating a buildup of momentum that has driven the price steadily upward. The previous downward trend has been terminated, successfully breaking upward, and after previously falling below the lower Bollinger Band, the price is gradually stabilizing and moving towards the middle band.
From the 4-hour chart, the bulls have a slight advantage, with a clear breakout trend. The price has broken above the middle band, stabilizing and expanding upward space. Subsequently, a low pullback can be expected. BTC 1137-1142 range, target 1150-1160 ETH 3520-3550 range, target 3600-3650
💥Tonight at 20:30, the grand performance of the US July employment data begins!
🔥 Two key indicators are in the spotlight:
1. US July unemployment rate: Previous value 4.10%, expected 4.20%, will there be new changes in the looseness of the job market? 2. US July seasonally adjusted non-farm payrolls: Previous value 147,000, expected 110,000, what direction will the non-farm 'weather vane' blow?
This set of data has far-reaching implications for the US dollar trend, US stocks, gold, and more. Traders and economic observers, keep a close eye!
The market continues to fluctuate, with prices operating between the upper and lower bands. The lower band support is effective, and bullish sentiment remains high, allowing for high selling and low buying.
On the four-hour chart, the Bollinger Bands are narrowing and flattening, three consecutive bearish candles have led to a release of bearish volume, KDJ has formed a death cross, and MACD is showing increasing bearish momentum, indicating a possible continuation of the downward trend in the short term. Pay attention to the lower band breakout; if it breaks down, it could trigger short positions, but currently, the focus remains on low buying.
BTC 116000-116500 buying range, looking at 118500-119000. ETH 3700-3720 buying range, looking at 3820-3880.